Demand Assessment : Nashik

By Accommodation Times Research

Nashik: The city is the part golden triangle of the country. Nashik’s salubrious environs and skilled workforce is turning out to be the IT industry’s next choice. Though still in its embryonic stage with WNS, Tricom and 18 other companies employing around 2000 people, Nashik’s IT industry is projected for a five fold increase by 2009.

To meet demand and requirement, the authorities are changing the city with improved transport and civic infrastructure. More than 11,000 crore has been invested towards improvements in Nashik infrastructure since 2005, and after the makeover plans envisaged for the city by the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), the city is in for a property boom.

Plots within the Nashik Municipal Corporation are fast filling up, and the areas of Adgaon, Makhmalabad, Chehdi, Pune Road, Igatpuri, Sinnar are the next choice for property buyers. Other commercial projects that are making news in Nashik are: the multi product Special Economic Zone (SEZ) in Sinnar promoted by the MIDC on 1010 hectares at an investment of Rs.1,555 crore, a racecourse, film city, botanical garden, IT zones, education zones, tourism development, entertainment arenas… all that goes into the making of a modern city.

The Raheja Group is looking at maintaining and leasing the IT park within the MIDC area in Ambad, and another privately constructed IT Park is coming up in Mahatma Nagar. Besides, to provide for expansion of new industry and IT companies in Nashik, the area between Adgaon to Ozar has been earmarked for development. Also on the cards is the DSK group’s SEZ project in Nashik at a cost of Rs. 4000 crore on 100 acres of land.

The city has a good impact of Pune. Developers are following the trend, which is set up Pune, with bigger, better and classier home. Nashik possesses all the advantages that a property investor looks for. Nashik has not been exposed to price hikes ever, but is on the brink of a real estate leap that could match, if not surpass Pune, in the near future.